Usury Law: Will NY’s Apply to Small Business Loans?

Image of an empty office.New York State’s usury law currently applies to consumers who have been given loans less than a certain amount. The same laws do not currently apply to commercial loans even those considered “small” business loans. Currently, the business loan interest rate is unlimited. We blogged about that.

As online commerce increases so do the presence of online lenders. These cyber companies, increasing in number, lend to NY residents and small businesses. Continue reading “Usury Law: Will NY’s Apply to Small Business Loans?”

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